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February 24, 2015

Conn. Eyes Greater Financial Disclosure in Hospital Sales

Connecticut Gov. Dannel Malloy has proposed legislation to require the leaders of nonprofit hospitals being bought by for-profit entities to disclose financial benefits they would receive from the deals, the Associated Press writes. Under the bill, such disclosure would be part of the state approval process required for the sale of nonprofit medical centers to commercial firms.

If people involved in a hospital sale "make more in bonuses than what a middle-class family might make over the course of a decade, then that should be made public," gubernatorial spokesman Devon Puglia said. The measure would cover all officers, directors, board members, and senior officials with the nonprofit hospital.